Closed for applications Closed on 31st December 2023
The Northern Powerhouse Investment Fund I (NPIF), supported by the European Regional Development Fund, provided commercially focussed finance through Microfinance, Debt and Equity Finance funds.
NPIF was a collaboration between the British Business Bank and ten Local Enterprise Partnerships (LEPs) in the North West, Yorkshire, the Humber and Tees Valley, and it provided over £500m of investment to boost small and medium business (SME) growth in the North of England.
The Northern Powerhouse Investment Fund I aimed to transform the finance landscape for smaller businesses in the North of England and to realise the region’s potential to achieve economic growth through enterprise.
£660m of government funding for the second Northern Powerhouse Investment Fund was announced in the Spending Review 2021. The next generation of NPIF will include the North East LEP area ensuring that it can support innovative and growing businesses across the North. More information will be posted in due course.
The current Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
Related articles
What is the UK Export Academy?
Read article What is the UK Export Academy?
What is the bank referral scheme?
Read article What is the bank referral scheme?
What is venture debt?
Read article What is venture debt?
Sign up for our newsletter
Just add your details to receive updates and news from the British Business Bank
Sign up to our newsletter